Multinational companies caught in crossfire

Taxand's Global Survey 2015 has shown that the publicising of tax practices continues to be a major issue for multinationals with 77 per cent of respondents saying it had a detrimental impact on reputation.

Last year saw a substantial step up in international scrutiny on multinationals' tax planning activity and global initiatives such as the Organisation for Economic Cooperation and Development's (OECD) initiative to bring changes in the international tax system through the ambitious Base Erosion & Profit-Shifting (BEPS) project, which is aimed at making international rules tighter so that there is no "unfair" competition among nations.